Russia's central bank offloaded 44 tonnes of gold in H1 2026; reserves down 1.4 million ounces
AI Market Summary
Russia's central bank reported a sale of ~44 tonnes of gold in H1 2026, cutting reserves by ~1.4 million ounces and highlighting an incremental source of official-sector supply. While the metal was likely redistributed domestically via banks, the disclosure can weigh on near-term gold sentiment by underscoring potential liquidity-driven selling and reducing expectations for persistent central-bank accumulation.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+1.79%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Russia's central bank sold about 44 tonnes of gold in the first half of 2026, according to the latest figures from the Central Bank of Russia (CBR). The data show the country's sovereign gold reserves have fallen by 1.4 million troy ounces, or roughly 43.5 tonnes, since the start of the year.
As of the beginning of July, Russia's sovereign gold holdings totaled 73.4 million troy ounces, or 2,282 tonnes, the CBR said on Monday. The central bank put the value of those holdings at $299 billion.
Vladimir Chernov, an analyst at Freedom Global, said most of the metal was likely sold to Russian banks through both exchange and over-the-counter markets. Full article at Kitco.
